1. This probably explains reasons for the significant, recent rise (see my link on 10.7.24) in Australia coal exports to China- Russian coal to China has become too expensive, & there are logistical problems with Russian coal.
mining.com/bloomberg 29.4.24 said"China is losing its appetite for Russian coal as import taxes and logistical snarls push Asia’s biggest buyer to cheaper alternatives.
Russian exports plunged 22% in the first quarter after Beijing imposed a tax regime at the start of the year that favors some of Russia’s rivals. The higher costs have been compounded by an increase in tariffs on Russian railways amid limitations on capacity, the China Coal Transportation and Distribution Association said in a note. The Kremlin’s surcharge on exports to help fund its war in Ukraine has also hindered competitiveness".
2. The major increase in Australian coal exports to China (see my link on 9.7.24) may be explained by this next link."Russia's finance ministry has put forth a proposal to increase mineral extraction tax rates from 2025 not only for gold, diamonds, iron ore and fertilizers, but also for coal, local media reported.
The proposal introduces a 10% premium on excess prices for thermal and coking coals at Far East ports, with threshold prices set at $100/t for thermal coal and $140/t for coking coal.
Analysts anticipated the greatest risks for the coal industry, warning that the new tax system threatens to reduce production...
The increase in the mineral extraction tax on iron ore and coal could reduce the profitability of free cash flow for metallurgists and coal miners by 0.1-0.2 percentage point".
Russia proposes to lift extraction tax on coal (coalresource.com)
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